DUBLIN, March 4, 2021 /PRNewswire/ -- The "Spirits Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Spirits Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global spirits (distilleries) market as it emerges from the COVID-19 shut down.
Major companies in the spirits market include United Spirits Ltd (A Diageo Company); United Breweries Ltd (UB); Radico Khaitan Ltd; Globus Spirits Ltd and GM Breweries Ltd.
The global spirits market is expected to grow from $143.31 billion in 2020 to $150.87 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $208.84 billion in 2025 at a CAGR of 8%.
The spirits market consists of sales of potable liquors, ethyl alcohol, grain alcohol and spirits by entities (organizations, sole traders and partnerships) that distil and blend liquors. The companies in the distilleries industry process raw materials into potable liquors, ethyl alcohol, grain alcohol and spirits, package and distribute them through various distribution channels to both individual customers and commercial establishments. The spirits market is segmented into whiskey; vodka; rum; tequila; gin and other spirits.
Asia Pacific was the largest region in the global spirits market, accounting for 58% of the market in 2020. North America was the second largest region accounting for 22% of the global spirits market. Middle East was the smallest region in the global spirits market.
Spirits manufacturers are now offering ready-to-mix hybrid beverages to cater to changing consumer tastes and preferences. Hybrid beverages are a blend of alcoholic drinks from multiple beverage categories. They are prepared by using unique flavor combinations, ingredients and production methods from multiple drinks.
For example, producing spirits or beers in a wine barrel, to give them a distinct taste. Hybrid beverages are particularly evident in the spirit category, with products such as beer mixed with rum and tea mixed with vodka. Some of the popular hybrid beverages include Malibu Red (rum and tequila), Kahlua Midnight (rum and Kahlua) and Absolut Tune (vodka and sparkling wine).
World population is growing and is expected to reach 10 billion by 2050. Increase in population creates more demand for alcoholic-beverages. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Therefore, companies in this market are expected to benefit from rising demand for spirits manufacturing (distilleries) products due to rising population, during the forecast period
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Spirits Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Spirits Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Spirits Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Spirits Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Spirits Market Trends And Strategies
8. Impact Of COVID-19 On Spirits
9. Spirits Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Spirits Market Regional Analysis
10.1. Global Spirits Market, 2020, By Region, Value ($ Billion)
10.2. Global Spirits Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Spirits Market, Growth And Market Share Comparison, By Region
11. Spirits Market Segmentation
11.1. Global Spirits Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Whiskey
- Vodka
- Rum
- Tequila
- Gin
- Other Spirits
11.2. Global Spirits Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Off-Trade Channels
- On-Trade Channels
11.3. Global Spirits Market, Segmentation By Category, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Mass
- Premium
12. Spirits Market Segments
12.1. Global Whiskey Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Single Malt; Other Whiskey
12.2. Global Vodka Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.3. Global Rum Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.4. Global Tequila Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.5. Global Gin Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.6. Global Other Spirits Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
13. Spirits Market Metrics
13.1. Spirits Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Spirits Market Expenditure, 2015-2025, Global
Companies Mentioned
- United Spirits Ltd (A Diageo Company)
- United Breweries Ltd (UB)
- Radico Khaitan Ltd
- Globus Spirits Ltd
- GM Breweries Ltd
For more information about this report visit https://www.researchandmarkets.com/r/kmreg4
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